A 15-day transfer pause officially ended on November 6, 2026. Token launchpad Pump.fun moved another 76,111 SOL worth roughly $6.85 million to crypto exchange Kraken. This latest transfer continues a series of cashouts that are rapidly approaching the $900 million mark.
On-chain data from Arkham and Lookonchain tracked the movement of the funds. The deposits were routed through a series of fee accounts to a Kraken deposit address before ultimately being moved into the exchange’s hot wallet. The transfers were executed in multiple separate batches, including transfers of 7,227 SOL, 7,170 SOL, and 20,464 SOL.
Cumulative Sales Top $882 Million
The latest deposits to Kraken bring Pump.fun’s cumulative SOL sales to 5,553,833 SOL. From these asset disposals, the platform has generated approximately $882.4 million at an average price of $158.88 per coin.
This marks a notable increase from previous figures. Compared to data from September 27, which stood at 5,236,623 SOL valued at $848 million, sales have risen by 317,210 SOL, or approximately $34.4 million. In earlier periods, the team allocated a portion of revenue back into the internal ecosystem. Data from August 3 to August 9 recorded the burn of 2.15 billion PUMP tokens worth $5.02 million out of the platform’s $10.03 million in total revenue.
Proposal for a One-Token-Per-Day Limit
The cashing-out activity comes as the platform’s operational model faces intense scrutiny. Community members and market participants have voiced sharp criticism against Pump.fun’s business model, accusing it of aggressively extracting fees via its bonding curve mechanism with little regard for the sustainability of newly launched projects.
In response, several traders have proposed system reforms. These recommendations include raising initial token valuations, providing sustained liquidity, allocating direct community incentives, and limiting token creation to one token per 24 hours per user.
Amid user frustration, Robinhood CEO Vlad Tenev signaled interest in on-chain expansion for memecoins and real-world assets. This move has prompted speculation that Robinhood could challenge Pump.fun’s dominance in facilitating token launches.
For market participants in the Solana ecosystem, emerging competition introduces fresh dynamics. Pump.fun’s dominant market position now faces a dual test: community demands for system overhauls, and the looming threat of major exchange players like Robinhood entering the same niche.
Reported via crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
